6. Let (inverse) demand be Pb = 99 - 1 Qb and (inverse) supply be Pv = 28 + 3 Qv. Consider the shift in supply illustrated (the intercept of Pv moves by 9), how much does the price change? Answer: your answer Submit Price ($) $350 $300 $250 $200 $150 $100 $50 $0 0 10 Demand 20 30 Supply 40 50 Quantity Eqm 60 S + shift 70 80 90 100

6. Let (inverse) demand be Pb = 99 - 1 Qb and (inverse) supply be Pv = 28 + 3 Qv. Consider the shift in supply illustrated (the intercept of Pv moves by 9), how much does the price change? Answer: your answer Submit Price ($) $350 $300 $250 $200 $150 $100 $50 $0 0 10 Demand 20 30 Supply 40 50 Quantity Eqm 60 S + shift 70 80 90 100

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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